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Iraq Stock Market Report
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th December 2014).
The RSISX index ended the week at ID1,373 (+0.2%)/ $1,489 (+0.2%) (weekly change) (-26.4% and -25.0% YTD change, respectively). The number of week traded shares was 2.8bn and the weekly trading volume was IQD3.5bn ($2.9mn).
ISX Company Announcements
Iraqi Agricultural Prod. Mark. Meat (AIPM) will hold its AGM* on Dec. 24, 2014 to discuss and approve 2012 & 2013 annual financial results, increasing its capital from IQD4.1bn to IQD4.5bn through bonus issue, and transferring the remaining surplus to the cumulative surplus item. The meeting agenda is also including the review of the current investment contracts, approving the new proposal for partnership with Turkish company (BM EPC) and electing new board members. (Please refer to our Daily published on Thursday (Dec.11) for the details)
Central Bank of Iraq (CBI) announced that, referenced to its letter no. (9/2/14779) dated on Sep. 28, 2014 about blocking United Bank (BUND) to issue letters of guarantees, CBI approved the resumption of the issuance of letters of guarantees. BUND should continue with the payments of all required amounts to the beneficiaries, and confirm on applying the laws and the instructions concerning with issuing letters of guarantees whether they were local or foreign clients. BUND will hold its AGM* on Dec. 18, to discuss and approve 2013 annual financial results. ISX suspended trading of BUND starting on Dec. 11, 2014.
Modern Animal & Agr. Production (AMAP) will hold its AGM* on Dec. 29, 2014 to discuss and approve 2013 annual financial results, increasing its capital from IQD3.6bn to IQD3.9bn through 8.5% bonus issue and distributing 4% cash dividend (IQD0.04 price per share). ISX will suspend trading of AMAP starting on Dec. 22, 2014.
Al-Sadeer Hotel (HSAD) will hold its AGM* on Dec. 21, to discuss and approve merging the calculations of 2012 & 2013 annual financials, decreasing the accumulated deficit of 2007, 2012 & 2013 and electing new board members. ISX will suspend trading of HSAD starting on Dec. 14.
Iraqi Engineering Works (IIEW) will hold its AGM* on Dec. 23, 2014 to discuss and approve 2013 annual financial results, dealing with the difference in tax of 2013 and presenting the company’s sites for investment. ISX will suspend trading of IIEW starting on Dec. 16, 2014.
Asiacell (TASC) will hold its AGM* on Dec. 17, 2014 to elect new board members.
New shares of Al-Ameen for Insurance (NAME) from the capital increase to IQD3bn through 50% bonus issue resumed trading on Dec. 10, 2014.
Outstanding points from the Second Iraqi Banking Conference held in Baghdad on November 29, 2014: The private banking sector should be part of the decision making mechanism in economic and financial matters through suggesting a representative network of private banks in the committee of economic affairs in the House of Representatives and in the board of directors of CBI. (Please refer to our Daily published on Tuesday (Dec.9) for the details)
According to the announcement by the CBI on December 7, 2014, one of the Rafidain Bank’s employees committed a number of irregularities on the bank accounts in collusion with some of the customers by transferring large amounts from the bank accounts to these customers’ accounts in different banks. The CBI has formed a committee with the Rafidain Bank administration the day after noticing the case. (Please refer to our Daily published on Monday (Dec.
for the details)
Gulf Insurance&Reinsurance (NGIR) will hold its AGM* on Dec. 15, 2014 to discuss and approve 2013 annual financial results and increasing its capital through rights issue. ISX suspended trading of NGIR starting on Dec. 8.
Source: Iraq-BusinessNews.com.
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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th December 2014).
The RSISX index ended the week at ID1,373 (+0.2%)/ $1,489 (+0.2%) (weekly change) (-26.4% and -25.0% YTD change, respectively). The number of week traded shares was 2.8bn and the weekly trading volume was IQD3.5bn ($2.9mn).
ISX Company Announcements
Iraqi Agricultural Prod. Mark. Meat (AIPM) will hold its AGM* on Dec. 24, 2014 to discuss and approve 2012 & 2013 annual financial results, increasing its capital from IQD4.1bn to IQD4.5bn through bonus issue, and transferring the remaining surplus to the cumulative surplus item. The meeting agenda is also including the review of the current investment contracts, approving the new proposal for partnership with Turkish company (BM EPC) and electing new board members. (Please refer to our Daily published on Thursday (Dec.11) for the details)
Central Bank of Iraq (CBI) announced that, referenced to its letter no. (9/2/14779) dated on Sep. 28, 2014 about blocking United Bank (BUND) to issue letters of guarantees, CBI approved the resumption of the issuance of letters of guarantees. BUND should continue with the payments of all required amounts to the beneficiaries, and confirm on applying the laws and the instructions concerning with issuing letters of guarantees whether they were local or foreign clients. BUND will hold its AGM* on Dec. 18, to discuss and approve 2013 annual financial results. ISX suspended trading of BUND starting on Dec. 11, 2014.
Modern Animal & Agr. Production (AMAP) will hold its AGM* on Dec. 29, 2014 to discuss and approve 2013 annual financial results, increasing its capital from IQD3.6bn to IQD3.9bn through 8.5% bonus issue and distributing 4% cash dividend (IQD0.04 price per share). ISX will suspend trading of AMAP starting on Dec. 22, 2014.
Al-Sadeer Hotel (HSAD) will hold its AGM* on Dec. 21, to discuss and approve merging the calculations of 2012 & 2013 annual financials, decreasing the accumulated deficit of 2007, 2012 & 2013 and electing new board members. ISX will suspend trading of HSAD starting on Dec. 14.
Iraqi Engineering Works (IIEW) will hold its AGM* on Dec. 23, 2014 to discuss and approve 2013 annual financial results, dealing with the difference in tax of 2013 and presenting the company’s sites for investment. ISX will suspend trading of IIEW starting on Dec. 16, 2014.
Asiacell (TASC) will hold its AGM* on Dec. 17, 2014 to elect new board members.
New shares of Al-Ameen for Insurance (NAME) from the capital increase to IQD3bn through 50% bonus issue resumed trading on Dec. 10, 2014.
Outstanding points from the Second Iraqi Banking Conference held in Baghdad on November 29, 2014: The private banking sector should be part of the decision making mechanism in economic and financial matters through suggesting a representative network of private banks in the committee of economic affairs in the House of Representatives and in the board of directors of CBI. (Please refer to our Daily published on Tuesday (Dec.9) for the details)
According to the announcement by the CBI on December 7, 2014, one of the Rafidain Bank’s employees committed a number of irregularities on the bank accounts in collusion with some of the customers by transferring large amounts from the bank accounts to these customers’ accounts in different banks. The CBI has formed a committee with the Rafidain Bank administration the day after noticing the case. (Please refer to our Daily published on Monday (Dec.
for the details)Gulf Insurance&Reinsurance (NGIR) will hold its AGM* on Dec. 15, 2014 to discuss and approve 2013 annual financial results and increasing its capital through rights issue. ISX suspended trading of NGIR starting on Dec. 8.
Source: Iraq-BusinessNews.com.
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